Utilization

[Anonymous]

I have four cards now, and plan to keep my utilization under 8%.  I've heard about revolving the cards by using two one month and then pay them off, and use the other two the next month, pay them off.  Is it wise to do that over keeping total utilization under 8% across all cards to show that you're using all and managing them at the same time, or doesn't it make a difference?

[Anonymous]

Only let one report a balance at a time. Otherwise, you are losing points. You can use the other just pay them in full before the statement cuts so they report zero.

You want one at 9% or less and the others at 0 or you will give up points. 

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@Anonymous wrote:

I have four cards now, and plan to keep my utilization under 8%.  I've heard about revolving the cards by using two one month and then pay them off, and use the other two the next month, pay them off.  Is it wise to do that over keeping total utilization under 8% across all cards to show that you're using all and managing them at the same time, or doesn't it make a difference?

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[Anonymous]

I use each of mine for different things. Discover i use for only online purchases.
The quicksilver i use for everyday purchases
The venture i just received and want the 20,000 signup bonus so i used that for everything until i hit the 1,000.
The AmEx Green i use at random.
So just use each card for a different shopping type.

[TheFate]

Thats incorrect.

You can use all 4 of your cards monthly and let them report balances as long as you keep them around 20-30% total util each. But do keep in mind, to maxmize your Fico score before applying for anything be sure to bring down all your balances to zero but 1 card. Let that 1 card report a balance of 6-9%. This is how you maximize your fico score and is only to be used before applying, if not just enjoy your cards and their benefits

[heyitsyeh]

6-9% of that card or of your overall limit?

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@TheFate wrote:

Thats incorrect.

You can use all 4 of your cards monthly and let them report balances as long as you keep them around 20-30% total util each. But do keep in mind, to maxmize your Fico score before applying for anything be sure to bring down all your balances to zero but 1 card. Let that 1 card report a balance of 6-9%. This is how you maximize your fico score and is only to be used before applying, if not just enjoy your cards and their benefits

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